Global trading giants dip toes in China oil futures on debut day

Crude oil prices lacked clear direction in early Thursday trading as markets balanced between declining U. Energy Information Administration reported Wednesday that U. EIA data show oil prices overnight trading U. Refineries, meanwhile, are gearing up for the production of a summer blend of gasoline for consumers.

On Thursday, however, the U. Census Bureau and the U. Bureau of Economic Analysis reported the U. That could undermine the potential in the U. President Donald Trump's goal of 3 percent growth. Crude oil prices were moving between small gains and losses for most of overnight trading. The price for Brent crude oil, the global benchmark for the price of oil, was up just 0. West Texas Intermediate, the U. The strength of the U. Labor Department reported, meanwhile, that first-time claims for unemployment increased 24, for the week ending March Last week's claims were revised up by 3, and the four-week average, a less-volatile metric, increased by Markets in general have been influenced by fears of a trade war between the United States and China as both sides play chicken with proposals of multibillion-dollar tariffs.

Movements in the equities markets have spilled over recently into commodities. Dow futures point to slight gains for Thursday. In a critique of trade policies embraced by U. Jessica Brewer, a principal analyst at Wood Mackenzie, said operators are spending more on mature basins, expansions to existing infrastructure or on projects that can be tied in to nearby producers.

Less is being spent on new oil and gas field developments. Oil prices overnight trading prices lack clear direction in push-pull market by Daniel J. Thanks for being here; We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain. With the oil prices overnight trading of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline.

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Posted February 08, Both the Dow Jones Industrial Average and the Nasdaq hit fresh record highs early into the overnight trading session, but the milestone was short-lived, with oil prices curbing the markets' advance. Sluggish demand for oil and signs of a revival in US shale production drove crude prices down, weighing on energy stocks and flattening out the broader markets. A report for the US Commerce Department revealed the trade deficit narrowed by more than expected in December, as exports rose to their highest level in one-and-a-half years.

IG's chief market strategist Chris Weston wrote in an economic note that the last few trading sessions could be seen as a source of comfort for traders with an eye on the longer-term. Bank of England policymaker Kristin Forbes suggested interest rates may need to rise "soon" to keep a lid on inflation, if the UK economy continued to perform well. Ms Forbes will deliver a speech in northern England on Wednesday to say that, "in my view, if the economy remains solid and the pick-up in the nominal data continues, this could soon suggest an increase in Bank Rate".

Last week the BoE indicated it was in no hurry to raise rates, with the governor Mark Carney stating the British economy would face "twists and turns" as it left the European Union. If you have inside knowledge of a topic in the news, contact the ABC. ABC teams share the story behind the story and insights into the making of digital, TV and radio content. Read about our editorial guiding principles and the enforceable standard our journalists follow. It turns out many Australians are still confused about what can and can't be recycled.

So why not test your general knowledge with this quick quiz. As Malcolm Turnbull races towards his 30th Newspoll loss, he looks to the T Model from Cyberdyne Systems for help as he slowly discovers that Judgement Day is inevitable. My friends and family have suffered abuse and vitriol for wearing the hijab, yet I still wanted to wear it.

Here's why I'm happy being "that kind of Muslim". Every 15 or so years, Western civilisations find themselves having to name a new age cohort. Unfortunately, we've painted ourselves into a corner. By finance reporter Rebecca Hyam.

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What do you know about recycling? Huw Parkinson's Turnbullnator What it's like to be the 'girl in the headscarf' My friends and family have suffered abuse and vitriol for wearing the hijab, yet I still wanted to wear it. Gen X, Gen Y, Gen? By Tiger Webb Every 15 or so years, Western civilisations find themselves having to name a new age cohort. Gun thefts double since as lobbies call for regulation overhaul. NAPLAN's writing test is 'bizarre' but here's how kids can get top marks Gun thefts double since as lobbies call for regulation overhaul Analysis: Turnbull's loss might not prove fatal but tension is brewing Vue de monde routinely underpaid workers, some former staff say The naked portrait that changed a former commando's life German police reportedly foil Berlin half-marathon attacks When's the right time to get the flu jab?

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